Here are the stats (private sector jobs):
Bush took office: 111,560,000
Nov, 2001 (end of recession): 109,535,000
Mar, 2003 (12 months ago): 108,305,000
NOW: Mar, 2004: 108,975,000
In the last 12 months, the economy has added 670,000 jobs. That is a start, but it is way below normal growth, due to the expanding working population, of 1.7 Million or so per year. This is especially pathetic when you consider the size of the deficit over the last 12 months (actual = $674,967,714,429.80 to the penny!)
We could have hired 2 Million teachers, cops, etc. for $50K a year each for just $100 Billion and still had another $574 Billion to go! This is not an economic proposal, but it illustrates the size of the deficit spending issue.
You ask: "What are you going to say if the economy is strong and growing in November?" That is a hypothetical that I will address when we get to October! But let me say: In 2000, it was obvious that the bubble was bursting and that we would have a recession. The level of employment was probably unsustainable. So it is no surprise that Bush's term got off to a bad start. However, I think the economy is in much worse structural shape today. In deeply technical terms, our National balance sheet stinks. |
